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Benchmark indices Sensex and Nifty climbed in early trade on Friday (May 29, 2026), following a decline in crude oil prices on reports that the U.S. and Iran reached an understanding to extend the ceasefire for another 60 days.
Buying in IT stocks and a positive trend in global markets also added to the optimism. The 30-share BSE Sensex climbed 352.22 points to 76,220.02 in early trade. The 50-share NSE Nifty went up by 95.65 points to 24,002.80.
From the 30-Sensex firms, Infosys, Trent, HCL Tech, Tata Consultancy Services, and Maruti were among the gainers. Bharti Airtel, ITC, Bharat Electronics, and InterGlobe Aviation were among the laggards. Brent crude, the global oil benchmark, traded 1.12% lower at $92.66 per barrel.
“There are some positive trends on the economic and market front. Brent crude declining to below $93 is a big positive. This has happened on the expectations of a deal between the U.S. and Iran. Therefore, if a deal happens, crude can decline further, thereby improving India’s macros, which have been under pressure from the energy crisis,” V.K. Vijayakumar, Chief Investment Strategist, Geojit Investments Limited, said.
In Asian markets, South Korea’s benchmark Kospi, Japan’s Nikkei 225 index, and Hong Kong’s Hang Seng index were trading higher, while Shanghai’s SSE Composite index quoted lower. U.S. markets ended higher on Thursday (May 28, 2026).
Reports indicate that the United States and Iran have agreed to a 60-day truce renewal, pending final approval from U.S. President Donald Trump, R. Ponmudi, CEO of Enrich Money, an online trading and wealth-tech firm, said.
“Although formal confirmation is still awaited, the development has significantly improved global risk sentiment and raised hopes of sustained de-escalation in the West Asia,” he added.
Stock markets were closed on Thursday (May 28) for Eid-ul-Azha. Foreign Institutional Investors (FIIs) offloaded equities worth ₹1,042.70 crore on Wednesday (May 27), according to exchange data.
On Wednesday (May 27), the Sensex declined 141.90 points, or 0.19%, to settle at 75,867.80. The Nifty skidded 6.55 points, or 0.03%, to end at 23,907.15.
Published – May 29, 2026 11:02 am IST
